During the beginning of the crypto sell off earlier this year, Ethereum was one of the highest performing alts for a great period of time.
I believe this was because during the beginning of this bear market, people were not as hesitant to take risky investments such as ICOs, AND also, many ICO developers were likely cashing out their tokens for Ethereum, all in turn, helped levitate the price.
However, as time went on, and the bear trend did not reverse, people began to panic.
ICO bag holders went running for cover, cashing out what little was left of their investment.
All mean while ICO developer whales realized it may be time to cash out their MASSIVE stacks of Ethereum while the price is still relatively high.
All in turn we get Ethereum capitulation.
Now I do not know if the end is in sight,
however, based on harmonics, we have a possible Bullish Gartley setup on the ETH/BTC pair.
Not only that, but ETHUSD is nearing my first support level buys at 230.
Based on my trading strategy, 2 out of the 2 currency pairs show possible support around these levels. I plan leverage against my USD to start building a ETHBTC long. If all goes to plan and ETHUSD finds support, I will start purchasing Ethereum outright.
My preferred entry is right at the 1.618 fib level
I hope you all enjoyed my analysis!
Please let me know what you think in the comments below!
DISCLAIMER:
Please note I am only providing my own trading information for your benefit and insight to my trading techniques, you should do your own due diligence and not take this information as a trade signal.
I believe this was because during the beginning of this bear market, people were not as hesitant to take risky investments such as ICOs, AND also, many ICO developers were likely cashing out their tokens for Ethereum, all in turn, helped levitate the price.
However, as time went on, and the bear trend did not reverse, people began to panic.
ICO bag holders went running for cover, cashing out what little was left of their investment.
All mean while ICO developer whales realized it may be time to cash out their MASSIVE stacks of Ethereum while the price is still relatively high.
All in turn we get Ethereum capitulation.
Now I do not know if the end is in sight,
however, based on harmonics, we have a possible Bullish Gartley setup on the ETH/BTC pair.
Not only that, but ETHUSD is nearing my first support level buys at 230.
Based on my trading strategy, 2 out of the 2 currency pairs show possible support around these levels. I plan leverage against my USD to start building a ETHBTC long. If all goes to plan and ETHUSD finds support, I will start purchasing Ethereum outright.
My preferred entry is right at the 1.618 fib level
I hope you all enjoyed my analysis!
Please let me know what you think in the comments below!
DISCLAIMER:
Please note I am only providing my own trading information for your benefit and insight to my trading techniques, you should do your own due diligence and not take this information as a trade signal.
액티브 트레이드:
$ETHBTC buys just hit
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